Caesarstone (NASDAQ:CSTE – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
Caesarstone Stock Performance
Shares of Caesarstone stock traded down $0.08 during midday trading on Tuesday, reaching $4.70. 42,865 shares of the company’s stock traded hands, compared to its average volume of 79,776. The stock has a 50 day moving average of $4.36 and a 200-day moving average of $4.83. Caesarstone has a 12 month low of $3.55 and a 12 month high of $6.81. The company has a market cap of $162.30 million, a PE ratio of -2.34 and a beta of 0.17.
Institutional Investors Weigh In On Caesarstone
A number of large investors have recently modified their holdings of CSTE. State Street Corp lifted its holdings in Caesarstone by 1.6% in the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after buying an additional 2,640 shares during the period. Jane Street Group LLC bought a new position in shares of Caesarstone in the 3rd quarter worth approximately $55,000. Barclays PLC lifted its stake in shares of Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after purchasing an additional 20,271 shares during the period. Rhumbline Advisers bought a new stake in shares of Caesarstone during the second quarter valued at approximately $107,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Caesarstone during the second quarter valued at approximately $106,000. Institutional investors own 33.70% of the company’s stock.
About Caesarstone
Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.
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